Carbon pricing is more important than renewables subsidies, researchers conclude

EU countries should place far greater emphasis on developing effective carbon pricing mechanisms than on delivering subsidies for renewable electricity if they want to drive decarbonisation, according to LSE's Grantham Research Institute on Climate Change and the Environment. Research presented to policy makers in Brussels today by the academic institution points out that the EU's decarbonisation of the power sector is now entering a "new phase" thanks to dramatically falling costs of renewables such as wind and solar power, which will soon mean they no longer need state subsidy support to encourage development. Related articles Innovate UK launches first ever loan fund Carbon pricing is more important than renewables subsidies, researchers conclude £10m boost for pioneering hydrogen heating project Batteries set to be major competitor in upcoming capacity market auctions ...